The Auckland Council approves an additional $ 14.5 million for the America's Cup, fearing that it's "a sport" for rich men "

The Auckland Council has approved an additional $ 14.5 million for the America's Cup, but some councilors have worried about the additional costs that taxpayers would have to bear for the "sport of the rich".

Councilors voted today at a special meeting of the governing body for extra money with dissenting votes from Mike Lee, Collins Efeso, John Watson and Wayne Walker.

The vote comes two days after the government provided an additional $ 22.5 million to build infrastructure on the Auckland waterfront in preparation for the 36th Cup defense in 2021.

The contribution of Auckland taxpayers to the cut increased from $ 98.5 million to $ 113 million and the taxpayer contribution from $ 114 to $ 136.5 million.

The additional funds have higher than expected costs for waves and dredging.

Tina Symmans, who chairs the company responsible for organizing the cup in Auckland, said "absolutely" agree with the suggestion of Mayor Phil Goff to put the cup at risk if the government and the board assumed the additional costs.

In a presentation at the meeting, Kevin Shoebridge, chief executive of the New Zealand team, spoke of the benefits of the Cup for Auckland, including job creation, spending on more than 100 super yachts and companies such as Southern Spars with an order book for 13 masts at $ 1 million each.

On peak days, up to 100,000 people should attend the event on the waterfront, Symmans said.

Councilor Josephine Bartley worried about the benefits of cutting to reach people, such as a kapa haka group at Glen Innes. Manukau's adviser, Efeso Collins, was also concerned about the possibility of the cut circumventing the inhabitants of Auckland South.

Yes, rich people have funded the sport, said Shoebridge, but the team members are not rich but normal people.

Councilor Mike Lee said that the America's Cup was the billionaires' sport for billionaires.

Someone must remember the taxpayer, he said, who had made a generous contribution in March of this year and who has now experienced a significant increase.

"It will not be the end – I'm getting off the bus here – I'm not going to support another penny for the America's Cup," Lee said.

Other councilors, including Chris Fletcher and the mayor, have supported additional spending on the basis of the economic benefits that this will bring to Auckland.

Most of the 8,000 new jobs and expected economic benefits of $ 600 to $ 1 billion would be realized in Auckland, Goff said.

Goff wanted the agents to assure him that there would be no more cost increases.

The chief operating officer of the board, Dean Kimpton, said that he could not provide a guarantee, but that the costs were better supported than the first costs in March of this year.

The new costs were initially estimated at $ 99 million more than originally forecast by Wynyard Edge Alliance of the companies that were building the infrastructure, but they were reduced by $ 70 million after the board and the government had asked the alliance to refine the scope of the project and to examine the costs.

Cost savings were achieved by reducing the size of the Hobson St wharf extension, altering dike design, replacing fixed dikes with floats, and reducing work on the Wynyard Wharf, according to a report presented at the extraordinary meeting of the governance body of today to approve the additional funding.

In addition to paying $ 113 million for infrastructure and operating costs, the council is spending $ 100 million on "ancillary work" to improve the waterfront.

These include repairs to the Wynyard Wharf, Hobson Wharf wave panels, a superyacht berthing facility, the relocation of the Sealink ferry service, and a stormwater outfall at Daldy St. These costs have been budgeted. in the council's 10-year budget.

Some of these items will improve water quality and improve public services in Viaduct Basin, the report says.

Monday, Economic Development Minister David Parker said the government's $ 136.5 million contribution "will guarantee the organization of a major regatta in 2021".

Parker said the event, to be held in 2021, is expected to generate between $ 550 and $ 1 billion in increased economic growth.

It would also generate "significant tax revenues for the government and offer wonderful opportunities to showcase our country, its people and innovation," Parker said.

Funding announcements follow the Royal New Zealand Yacht Squadron and the Emirates New Zealand Team (ETNZ), which revealed Friday that eight more notices of contestation were received on time.

An acceptance process will determine how many challengers will compete in the Prada Cup alongside Luna Rossa, American Magic and INEOS Team UK.